My last post, "Nailing Financial Predators," may have left some feeling like an easy mark. But what if we could take our six natural human responses to persuasion and make them work in our favor? Well, we can. Here are some ideas on how to proactively take charge and shoot that inner, sitting duck:
1. Authority - If we respond to the perception that someone has expertise or power over us, it's best to make sure that that reverence is actually warranted before heeding their advice. Seek out respected authorities on investing, such as Warren Buffett; who keeps his advice simple:
"When trillions of dollars are managed by Wall Streeters charging high fees, it will usually be the managers who reap outsized profits, not the clients. Both large and small investors should stick with low-cost index funds."
2. Reciprocity - When someone does a kindness (even with ulterior motives), we are tempted to do something kind in return. What if the good starts with us? Seek out a helpful Read on...

I remember the first time I helped a colleague of Tony’s switch out of a horrible 403(b). Tony had come to me aghast over what he had seen; an annuity with 4% in fees and longstanding surrender fees. We had no idea that this was not the exception to the rule; nor did we realize that this would become our full-time obsession.
Here was an educated, savvy woman who had absolutely no idea how badly she was being ripped off. It turns out that there were many more teachers, just like her, who had listened to recommendations from esteemed (but ignorant) colleagues. One-by-one they formed a chain of the blind leading the blind and, in spite of their intelligence; they all went right over the same cliff.
Secretly I wondered if I could have been one of these people, if I didn’t know what I knew. The answer is probably.
Let’s face it; most people would rather not spend their free time researching where they should squirrel away funds for a rainy day some decades into the future. If Read on...

I learned, at a fairly young age, that life can change as quickly as it takes a heart to beat.
It was the day before Thanksgiving, 1973, when my father suffered a heart attack. He was 56 and I was 8. As the sole breadwinner, I am sure all the worries he had about caring for his wife and seven kids (four of whom were minors) were pinging in his head, keeping time with his rapid pulse rate.
Thankfully, after several weeks in the hospital, he was allowed to come home in time for Christmas. It was a gift; but frankly, the anxiety over his health issues would haunt me throughout his lifetime. Fortunately, he lived into his late eighties; but having no way of knowing that he would be blessed with longevity, I began the egg-shell walk that would span decades.
It took me well into my adulthood before my fears eased up a bit. Perhaps experiencing milestones that I worried might never come, like having my father walk me down the aisle, allowed me to exhale.
And now, at the age of Read on...

Imagine you’re about to set out on a road trip. You would absolutely need to have an idea of where you wanted to go – north, south, east, or west. You would have to work within the confines of how much time you had for this trip – that would determine how far you could go.
Your financial goals are no different than that road trip; failing to plan means planning to fail.
Even if you haven’t given retirement much thought, in terms of what it looks like and feels like, chances are you have an idea of when you would like to have the freedom to walk away. For those of you bemoaning that you will need to work until you die, it’s time to see if that is really true or simply your worst fear taking over and freezing you in your tracks.
But, you have to set your goals. You have to make this a priority.
The trouble is, unlike the mortgage payment or electric bill, there are no immediate ramifications if you don’t take the time to do this. It is important, but it is not Read on...

Dina Isola

Since 2002, Dina Isola has worked closely with investors, hearing their concerns. Drawing on her experiences and challenges, Real$martica was born, which focuses on making personal finance issues relatable to women, children and families and educating investors to make informed decisions. A contributor to A Teachable Moment, she is a client relations specialist at Ritholtz Wealth Management. She also serves on Stony Brook Children’s Hospital Task Force.